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Asset Depletion Loans in Palm Desert
Palm Desert attracts retirees, investors, and high-net-worth individuals who may not have traditional W-2 income. Asset depletion loans serve this unique borrower profile perfectly.
This non-QM mortgage option lets you leverage substantial savings, retirement accounts, or investment portfolios to secure financing. Your liquid assets become your qualifying income.
Riverside County's diverse real estate market includes resort properties, second homes, and luxury estates. Many buyers in Palm Desert need flexible lending solutions beyond conventional loans.
Lenders calculate your qualifying income by dividing total liquid assets by a set number of months, typically 360. This monthly figure becomes your documented income for qualification purposes.
You'll need substantial verifiable assets in bank accounts, brokerage accounts, or retirement funds. Most programs require at least several hundred thousand dollars in liquid assets to qualify.
Credit scores, down payment size, and property type all affect your eligibility. Rates vary by borrower profile and market conditions, so each scenario receives individual evaluation.
Asset depletion loans come from specialized non-QM lenders rather than traditional banks. These lenders understand alternative income documentation and serve niche borrower needs.
Working with an experienced mortgage broker gives you access to multiple lenders simultaneously. Different lenders have varying asset calculation methods and program guidelines.
Some lenders allow retirement accounts while others focus on liquid savings and investments. Finding the right match for your specific asset profile makes all the difference in approval odds.
Many Palm Desert borrowers don't realize their substantial assets can qualify them for a mortgage. Retirees with pension income and savings often benefit most from this approach.
We structure deals based on your complete financial picture, not just employment history. Asset depletion loans open doors for buyers who banks might otherwise decline.
This program works exceptionally well for foreign nationals with U.S. assets, business owners between ventures, and early retirees. Your wealth matters more than your paycheck.
Asset depletion loans differ from bank statement loans, which use business deposits to verify income. They also differ from DSCR loans, which rely solely on rental property cash flow.
If you're self-employed with income documentation, 1099 loans might work better. Foreign national loans serve non-residents, though asset depletion can complement those programs too.
Each non-QM loan type serves different borrower situations. We analyze your finances to recommend the program offering the best terms and approval likelihood.
Palm Desert's luxury market and resort properties attract buyers with diverse financial profiles. Many have wealth stored in investments rather than traditional employment income.
Riverside County offers more affordable options than neighboring areas while maintaining desert lifestyle appeal. Asset depletion loans help you access this market regardless of employment status.
Seasonal residents and retirees form a significant portion of Palm Desert buyers. This demographic often needs creative financing solutions that recognize net worth over income statements.
Bank accounts, brokerage accounts, stocks, bonds, and retirement accounts typically qualify. Assets must be liquid and verifiable through recent statements.
Requirements vary by purchase price and loan amount. Most borrowers need at least $500,000 in liquid assets, though larger loans require proportionally more.
Yes, this program specifically helps retirees and others without traditional income. Your assets become your qualifying income for mortgage approval.
Rates vary by borrower profile and market conditions. Non-QM loans typically carry slightly higher rates than conventional, reflecting their flexible qualification standards.
Most programs require 20-30% down, though exact requirements depend on the lender and your profile. Larger down payments often secure better terms.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.